Caspin Resources Extends High-Grade Mineralisation at Serradella
THE DRILL SERGEANT: Caspin Resources (ASX: CPN) reported results from drilling currently underway at the Serradella prospect within the company’s Yarawindah Brook project in Western Australia.
Caspin Resources said the latest drill results it has received demonstrate multiple zones of high-grade PGE-nickel-copper mineralisation extending over 1,000 metres of strike and remains open.
The company explained the drill program has included close-spaced drilling around the area of the YARC0036 discovery hole (17m at 2.33g/t 4E) as well as further broad step-outs to the northeast of YARC0036, towards an interpreted position of the basal contact, which it believes could host massive sulphide styles of mineralisation.
New results include:
YAD0029
8.9 metres at 2.47 grams per tonne 3E, 0.22 per cent nickel from 131.1m;
YARCD0047
3.83m at 2.39g/t 3E, 0.08 per cent nickel from 380.25m;
YARC0058
4m at 1.16g/t 3E, 0.16 per cent nickel from 54m and 3m at 1.29g/t 3E from 67m; and
YARC0065
5m at 1.16g/t 3E, 0.15 per cent nickel from 76m.
Caspin highlighted a characteristic of the PGE mineralisation at Serradella being the presence of rhodium in many of the higher-grade lode positions.
Rhodium results returned in new and re-sampled zones, include:
YARC0066
8m at 2.29g/t 4E (0.17g/t Rh), 0.11 per cent nickel from 114m; and
YARCD0052
3.83m at 3.34g/t 4E (0.11g/t Rh), 0.27 per cent nickel, from 95m.
“We’ve made a significant breakthrough in understanding the mineralisation style and geology of the Serradella prospect,” Caspin Resources CEO Greg Miles said in the company’s ASX announcement.
“Recognising continuity of mineralised lodes over significant strike length, close to surface, is an important step in evaluating the resource potential of the prospect.
“The extent of these lodes is limited only by the sparsity of drilling.
“More importantly, we are still intersecting high-grade mineralisation over 1,000 metres from the original discovery, demonstrating that the Yarabrook Intrusion isa large mineralised system with excellent potential for a world-class deposit.
“It is also pleasing that we are now consistently (and predictively) intersecting significant rhodium mineralisation at Serradella.
“This adds significant value to our basket of metals and a point of difference between Yarawindah Brook and other Australian PGE projects.”
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